Bentley Systems (NASDAQ:BSY) Earns “Overweight” Rating from Piper Sandler

Bentley Systems (NASDAQ:BSY)‘s stock had its “overweight” rating restated by stock analysts at Piper Sandler in a research note issued to investors on Friday,Benzinga reports. They presently have a $45.00 price objective on the stock. Piper Sandler’s target price would indicate a potential upside of 27.80% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Mizuho reduced their target price on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Weiss Ratings lowered Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, July 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $50.00 price target on shares of Bentley Systems in a research note on Monday. BMO Capital Markets increased their price objective on Bentley Systems from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Zacks Research lowered Bentley Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.00.

Bentley Systems Stock Performance

NASDAQ BSY opened at $35.21 on Friday. The stock’s 50-day simple moving average is $32.14 and its two-hundred day simple moving average is $33.91. Bentley Systems has a twelve month low of $28.08 and a twelve month high of $57.25. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $10.23 billion, a price-to-earnings ratio of 38.69, a PEG ratio of 2.26 and a beta of 0.98.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%.The firm had revenue of $410.73 million during the quarter, compared to analysts’ expectations of $412.12 million. During the same period in the prior year, the business earned $0.32 EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. Research analysts forecast that Bentley Systems will post 1.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Bentley Systems by 253.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company’s stock valued at $167,924,000 after purchasing an additional 3,429,087 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in Bentley Systems by 150.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company’s stock worth $163,703,000 after buying an additional 2,803,241 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Bentley Systems in the 2nd quarter worth about $78,738,000. Norges Bank purchased a new position in Bentley Systems in the 4th quarter worth about $68,766,000. Finally, Swedbank AB lifted its stake in Bentley Systems by 18.5% during the 4th quarter. Swedbank AB now owns 8,589,201 shares of the company’s stock valued at $327,807,000 after acquiring an additional 1,338,706 shares during the period. 44.16% of the stock is owned by institutional investors.

Bentley Systems Company Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.